1290 Retirement Funds

1290 Asset Managers®

Take aim at your personal
retirement target date
with the help of a guided
risk-management discipline

When you can clearly see the target, your retirement planning will start falling into sharper focus.

To help you, 1290 Asset Managers offers the 1290 Retirement Funds, a series of mutual funds with specific retirement target dates and a guided risk-management discipline. Each Fund has a built-in allocation glide-path that seeks to anticipate your risk tolerance at different stages of life. The Fund's investments in underlying exchange traded securities and other investment vehicles ("Underlying ETFs") are then adjusted to maintain an age-appropriate balance between seeking capital growth and capital preservation.

You make one decision - to purchase the Fund that best corresponds to your target date. Thereafter, the risk-management discipline takes over to help you simplify investing — all the way to retirement and beyond.

Each of the nine 1290 Retirement Funds features:

A specific retirement target date. Target dates are at five-year intervals, so you can choose the one closest to the date you expect to start retirement – from 2020 to 2060.

Instant diversification. To keep your holdings well diversified, each Fund includes a mix of Underlying ETFs in varying asset classes. While diversification doesn't assure a profit or protect against loss, it can help to smooth ups and downs in portfolio performance.

Rebalancing. The portfolio manager aims to keep holdings aligned with model asset class weights, which reflect the Fund’s risk management discipline. When holdings diverge from these weights, the manager brings them back into alignment. This helps to keep your asset allocation and risk-management discipline current through changing markets.

Familiar underlying investments. The Fund invests in Underlying ETFs, each of which is carefully selected and monitored by the adviser, 1290 Asset Managers. These securities, which are familiar to many investors, offer the liquidity of daily pricing and trading on public markets.

Volatility management. Some Underlying ETFs in which the Fund invests emphasize price volatility management. This technique helps to take the emotion out of investing by reducing equity risk exposure when stock markets turn more volatile.

RELATED

How the Fund invests

The Funds invest in Underlying ETFs, which represent a variety of asset classes. The Funds are managed to target the specific year of planned retirement (the “retirement year” or “target year”) in five year increments from 2020 to 2060. The retirement year also assumes that an investor retires at age 65; however, the Fund should not be selected solely on the basis of an investor’s age or the target year. The Fund’s asset mix will become more conservative each year until reaching the year approximately 10 years after the retirement year at which time it is intended that the asset mix will become relatively stable. The Fund balances the need for appreciation with the need for income as retirement approaches, and focuses on supporting an income stream over a long-term retirement withdrawal horizon. The Fund is not designed for a lump sum redemption at the target year and does not guarantee a particular level of income. The Fund maintains significant allocations to equities both prior to and after the target year and is generally expected to reach its most conservative allocation 10 years after the target year.

1290 Retirement Funds: Asset Class Shift Over Time

Note: Position on the glide path are target allocations as of March 1, 2017 subject to change.

Fund Objective

The Funds seek the highest total return over time consistent with its asset mix while managing portfolio volatility. Total return includes capital growth and income.

Fund Details

2020 Fund

2025 Fund

2030 Fund

Ticker

TNIIX

TNJIX

TNKIX

CUSIP

68259P 307

68259P 703

68259P 869

ISIN

US68259P3073

US68259P7033

US68259P8692

Investment Minimum*

$1,000,000 for certain
institutions and individuals
• $1,000 for certain
employees (or their
immediate family
members) of AXA
Financial or its
subsidiaries
• Class I Shares are
available to clients of
registered investment
advisers who have
$250,000 invested in
the Fund

$1,000,000 for certain
institutions and individuals
• $1,000 for certain
employees (or their
immediate family
members) of AXA
Financial or its
subsidiaries
• Class I Shares are
available to clients of
registered investment
advisers who have
$250,000 invested in
the Fund

$1,000,000 for certain
institutions and individuals
• $1,000 for certain
employees (or their
immediate family
members) of AXA
Financial or its
subsidiaries
• Class I Shares are
available to clients of
registered investment
advisers who have
$250,000 invested in
the Fund

2035 Fund

2040 Fund

2045 Fund

Ticker

TNLIX

TNNIX

TNOIX

CUSIP

68259P 828

68259P 778

68259P 737

ISIN

US68259P8288

US68259P7785

US68259P7371

Investment Minimum*

$1,000,000 for certain
institutions and individuals
• $1,000 for certain
employees (or their
immediate family
members) of AXA
Financial or its
subsidiaries
• Class I Shares are
available to clients of
registered investment
advisers who have
$250,000 invested in
the Fund

$1,000,000 for certain
institutions and individuals
• $1,000 for certain
employees (or their
immediate family
members) of AXA
Financial or its
subsidiaries
• Class I Shares are
available to clients of
registered investment
advisers who have
$250,000 invested in
the Fund

$1,000,000 for certain
institutions and individuals
• $1,000 for certain
employees (or their
immediate family
members) of AXA
Financial or its
subsidiaries
• Class I Shares are
available to clients of
registered investment
advisers who have
$250,000 invested in
the Fund

2050 Fund

2055 Fund

2060 Fund

Ticker

TNWIX

TNQIX

TNXIX

CUSIP

68259P 687

68259P 646

68259P 596

ISIN

US68259P6878

US68259P6464

US68259P5961

Investment Minimum*

$1,000,000 for certain
institutions and individuals
• $1,000 for certain
employees (or their
immediate family
members) of AXA
Financial or its
subsidiaries
• Class I Shares are
available to clients of
registered investment
advisers who have
$250,000 invested in
the Fund

$1,000,000 for certain
institutions and individuals
• $1,000 for certain
employees (or their
immediate family
members) of AXA
Financial or its
subsidiaries
• Class I Shares are
available to clients of
registered investment
advisers who have
$250,000 invested in
the Fund

$1,000,000 for certain
institutions and individuals
• $1,000 for certain
employees (or their
immediate family
members) of AXA
Financial or its
subsidiaries
• Class I Shares are
available to clients of
registered investment
advisers who have
$250,000 invested in
the Fund

Portfolio Managers

Kenneth T. Kozlowski, CFP, CLU, ChFC

Chief Investment Officer of 1290 Asset Managers

Kenneth Kozlowski, Chief Investment Officer of 1290 Asset Managers, leads a dedicated team responsible for asset allocation and rebalancing functions used in connection with the 1290 Funds®. In 2010, Mr. Kozlowski became the head of the Investment Management Services ("IMS") unit within 1290 Asset Managers. IMS includes the Portfolio Analytics Group which is responsible for subadviser selection, screening and monitoring. Mr. Kozlowski, who joined the company in 1999, has more than 25 years' experience in the mutual fund business. He is Certified Financial Planner (CFP), Chartered Life Underwriter (CLU), and a Chartered Financial Consultant (ChFC). He holds memberships in the Financial Planning Association and the Society of Financial Service Professionals. Mr. Kozlowski graduated from Swarthmore College in Swarthmore, PA with a B.A. in Economics.

Alwi Chan, CFA®

Deputy Chief Investment Officer of 1290 Asset Managers

Alwi Chan is the Deputy Chief Investment Officer of 1290 Asset Managers. Mr. Chan is head of 1290 Asset Manager's Portfolio Analytics team. Mr. Chan joined AXA Financial in June 1999, having previously worked at D.E. Shaw & Co. and Arthur Anderson. He holds a Bachelor of Economics from Trisakti University in Jakarta, Indonesia and an MBA from Tulane University. Mr. Chan is a CFA® charterholder.

Xavier Poutas, CFA®

Assistant Portfolio Manager of 1290 Asset Managers

Xavier Poutas is an Assistant Portfolio Manager of 1290 Asset Managers. Mr. Poutas joined the company in October 2004 as a Fund Administrator and transferred to the Asset Allocation team within the Investment Management Services group in June 2007. Mr. Poutas assists in portfolio analysis, rebalancing and portfolio performance evaluation with respect to the Allocation Portfolio's ETF Investments. Mr. Poutas received his MS in Accounting and Finance from the University of Nantes (France) in 2000 and his B.B.A. in Accounting and Finance in 1999 from Ecole Superieure des Sciences Commerciales d'Angers (France). Mr. Poutas is a CFA® charterholder.

Miao Hu, CFA®, CAIA®

Assistant Portfolio Manager of 1290 Asset Managers

Miao Hu is an Assistant Portfolio Manager of 1290 Asset Managers. She has served as a portfolio manager of 1290 Asset Managers since April 2016. Miao has also served as a member of the portfolio analytics team since November 2013. Before joining the company, Ms. Hu was a Financial Services Sector Specialist at FactSet Research Systems from January 2012 to November 2013, a Senior Research Analyst at Strategic Insight from February 2008 to December 2011. Ms. Hu received her M.S in Communications from University of Ulster, Northern Ireland, UK in 2003. Ms. Hu is a CFA® charterholder and CAIA® member.

CFA is a registered trademark of the CFA Institute.

CAIA is a registered trademark of the Chartered Alternative Investment Analyst Association.

An investment in the fund will not ensure that an investor will have assets sufficient to cover retirement expenses or that an investor will have enough saved to be able to retire in, or within a few years of, the target year identified in the Fund's name. Equity securities involve the risk that the value of the securities may fluctuate, sometimes widely fluctuate, in response to changes in a company's financial condition as well as general market, economic and political conditions and other factors. Fixed income investments are subject to interest rate risk so that when interest rates rise, the prices of fixed income securities can decrease and the investor can lose principal value.

Investments in foreign securities, including depositary receipts, involve risks not associated with investing in U.S. securities. Foreign markets, particularly emerging markets, may be less liquid, more volatile and subject to less government supervision than domestic markets. Security values also may be negatively affected by changes in the exchange rates between the U.S. dollar and foreign currencies. Differences between U.S. and foreign legal, political and economic systems, regulatory regimes and market practices also may impact security values and it may take more time to clear and settle trades. Equity securities involve the risk that the value of the securities may fluctuate, sometimes widely fluctuate, in response to changes in a company's financial condition as well as general market, economic and political conditions and other factors. To the extent a Fund invests in Underlying ETFs, the Fund will be subject to the risks associated with the securities and other investments in which the Underlying ETF invest and the ability of the Fund to meet its investment objective will directly depend on the ability of the Underlying ETFs to meet their investment objective. In addition, the use of volatility management techniques by the Underlying ETF may limit the Fund's participation in market gains, particularly during periods when market values are increasing, but market volatility is high.

1290 Retirement 2020 Fund

Top 15 Holdings as of 12/31/2017 subject to change

Security

Weight %

iShares Core U.S. Aggregate Bond ETF

28.40%

iShares Core S&P Total US Stock Market ETF

19.80%

iShares Core MSCI EAFE ETF

7.30%

iShares TIPS ETF

6.60%

PowerShares S&P 500 Low Volatility Portfolio

6.40%

iShares Edge MSCI Min Vol USA ETF

6.40%

iShares Edge MSCI Min Vol EAFE ETF

3.60%

PowerShares S&P International Developed Low Volatility Portfolio

3.50%

PowerShares S&P MidCap Low Volatility Portfolio

3.40%

Vanguard Short-Term Bond ETF

3.30%

Vanguard Total International Bond ETF

2.40%

SPDR Bloomberg Barclays High Yield Bond ETF

2.40%

iShares Core MSCI Emerging Markets ETF

1.70%

SPDR SSGA US Small Cap Low Volatility ETF

1.60%

PowerShares S&P SmallCap Low Volatility Portfolio

1.50%

1290 Retirement 2025 Fund

Top 15 Holdings as of 12/31/2017 subject to change

Security

Weight %

iShares Core U.S. Aggregate Bond ETF

26.10%

iShares Core S&P Total US Stock Market ETF

23.10%

iShares Core MSCI EAFE ETF

8.60%

PowerShares S&P 500 Low Volatility Portfolio

7.40%

iShares Edge MSCI Min Vol USA ETF

7.40%

iShares TIPS ETF

4.90%

PowerShares S&P International Developed Low Volatility Portfolio

4.30%

iShares Edge MSCI Min Vol EAFE ETF

4.30%

PowerShares S&P MidCap Low Volatility Portfolio

4.30%

iShares Core MSCI Emerging Markets ETF

2.00%

PowerShares S&P SmallCap Low Volatility Portfolio

1.90%

SPDR SSGA US Small Cap Low Volatility ETF

1.80%

iShares Edge MSCI Min Vol Emerging Markets ETF

1.00%

PowerShares S&P Emerging Markets Low Volatility Portfolio

1.00%

Vanguard Short-Term Bond ETF

0.70%

1290 Retirement 2030 Fund

Top 14 Holdings as of 12/31/2017 subject to change

Security

Weight %

iShares Core S&P Total US Stock Market ETF

25.50%

iShares Core U.S. Aggregate Bond ETF

22.40%

iShares Core MSCI EAFE ETF

9.60%

PowerShares S&P 500 Low Volatility Portfolio

8.20%

iShares Edge MSCI Min Vol USA ETF

8.20%

iShares Edge MSCI Min Vol EAFE ETF

4.80%

PowerShares S&P International Developed Low Volatility Portfolio

4.70%

PowerShares S&P MidCap Low Volatility Portfolio

4.60%

iShares TIPS ETF

3.70%

iShares Core MSCI Emerging Markets ETF

2.20%

PowerShares S&P SmallCap Low Volatility Portfolio

2.00%

SPDR SSGA US Small Cap Low Volatility ETF

1.90%

iShares Edge MSCI Min Vol Emerging Markets ETF

1.10%

PowerShares S&P Emerging Markets Low Volatility Portfolio

1.10%

1290 Retirement 2035 Fund

Top 14 Holdings as of 12/31/2017 subject to change

Security

Weight %

iShares Core S&P Total US Stock Market ETF

27.40%

iShares Core U.S. Aggregate Bond ETF

18.00%

iShares Core MSCI EAFE ETF

10.10%

iShares Edge MSCI Min Vol USA ETF

9.00%

PowerShares S&P 500 Low Volatility Portfolio

8.90%

iShares Edge MSCI Min Vol EAFE ETF

5.10%

PowerShares S&P International Developed Low Volatility Portfolio

5.00%

PowerShares S&P MidCap Low Volatility Portfolio

4.80%

iShares TIPS ETF

3.00%

iShares Core MSCI Emerging Markets ETF

2.30%

PowerShares S&P SmallCap Low Volatility Portfolio

2.20%

SPDR SSGA US Small Cap Low Volatility ETF

2.00%

iShares Edge MSCI Min Vol Emerging Markets ETF

1.20%

PowerShares S&P Emerging Markets Low Volatility Portfolio

1.20%

1290 Retirement 2040 Fund

Top 14 Holdings as of 12/31/2017 subject to change

Security

Weight %

iShares Core S&P Total US Stock Market ETF

29.30%

iShares Core U.S. Aggregate Bond ETF

14.00%

iShares Core MSCI EAFE ETF

10.60%

iShares Edge MSCI Min Vol USA ETF

9.60%

PowerShares S&P 500 Low Volatility Portfolio

9.60%

iShares Edge MSCI Min Vol EAFE ETF

5.30%

PowerShares S&P International Developed Low Volatility Portfolio

5.20%

PowerShares S&P MidCap Low Volatility Portfolio

5.00%

iShares Core MSCI Emerging Markets ETF

2.40%

iShares TIPS ETF

2.30%

PowerShares S&P SmallCap Low Volatility Portfolio

2.30%

SPDR SSGA US Small Cap Low Volatility ETF

2.10%

iShares Edge MSCI Min Vol Emerging Markets ETF

1.30%

PowerShares S&P Emerging Markets Low Volatility Portfolio

1.20%

1290 Retirement 2045 Fund

Top 14 Holdings as of 12/31/2017 subject to change

Security

Weight %

iShares Core S&P Total US Stock Market ETF

31.10%

iShares Core MSCI EAFE ETF

11.00%

iShares Edge MSCI Min Vol USA ETF

10.30%

PowerShares S&P 500 Low Volatility Portfolio

10.30%

iShares Core U.S. Aggregate Bond ETF

9.80%

iShares Edge MSCI Min Vol EAFE ETF

5.50%

PowerShares S&P MidCap Low Volatility Portfolio

5.40%

PowerShares S&P International Developed Low Volatility Portfolio

5.40%

iShares Core MSCI Emerging Markets ETF

2.50%

PowerShares S&P SmallCap Low Volatility Portfolio

2.40%

SPDR SSGA US Small Cap Low Volatility ETF

2.20%

iShares TIPS ETF

1.70%

iShares Edge MSCI Min Vol Emerging Markets ETF

1.30%

PowerShares S&P Emerging Markets Low Volatility Portfolio

1.30%

1290 Retirement 2050 Fund

Top 14 Holdings as of 12/31/2017 subject to change

Security

Weight %

iShares Core S&P Total US Stock Market ETF

32.90%

iShares Core MSCI EAFE ETF

11.60%

iShares Edge MSCI Min Vol USA ETF

10.90%

PowerShares S&P 500 Low Volatility Portfolio

10.90%

PowerShares S&P International Developed Low Volatility Portfolio

5.80%

iShares Edge MSCI Min Vol EAFE ETF

5.70%

iShares Core U.S. Aggregate Bond ETF

5.70%

PowerShares S&P MidCap Low Volatility Portfolio

5.60%

PowerShares S&P SmallCap Low Volatility Portfolio

2.50%

iShares Core MSCI Emerging Markets ETF

2.50%

SPDR SSGA US Small Cap Low Volatility ETF

2.30%

iShares Edge MSCI Min Vol Emerging Markets ETF

1.40%

PowerShares S&P Emerging Markets Low Volatility Portfolio

1.30%

iShares TIPS ETF

1.00%

1290 Retirement 2055 Fund

Top 14 Holdings as of 12/31/2017 subject to change

Security

Weight %

iShares Core S&P Total US Stock Market ETF

34.60%

iShares Core MSCI EAFE ETF

12.20%

PowerShares S&P 500 Low Volatility Portfolio

11.50%

iShares Edge MSCI Min Vol USA ETF

11.50%

iShares Edge MSCI Min Vol EAFE ETF

6.10%

PowerShares S&P International Developed Low Volatility Portfolio

6.10%

PowerShares S&P MidCap Low Volatility Portfolio

5.90%

iShares Core MSCI Emerging Markets ETF

2.70%

PowerShares S&P SmallCap Low Volatility Portfolio

2.60%

SPDR SSGA US Small Cap Low Volatility ETF

2.40%

iShares Core U.S. Aggregate Bond ETF

1.50%

PowerShares S&P Emerging Markets Low Volatility Portfolio

1.40%

iShares Edge MSCI Min Vol Emerging Markets ETF

1.30%

iShares TIPS ETF

0.30%

1290 Retirement 2060 Fund

Top 12 Holdings as of 12/31/2017 subject to change

Security

Weight %

iShares Core S&P Total US Stock Market ETF

35.00%

iShares Core MSCI EAFE ETF

12.30%

PowerShares S&P 500 Low Volatility Portfolio

11.70%

iShares Edge MSCI Min Vol USA ETF

11.70%

iShares Edge MSCI Min Vol EAFE ETF

6.20%

PowerShares S&P International Developed Low Volatility Portfolio

6.10%

PowerShares S&P MidCap Low Volatility Portfolio

6.00%

iShares Core MSCI Emerging Markets ETF

2.80%

SPDR SSGA US Small Cap Low Volatility ETF

2.70%

PowerShares S&P SmallCap Low Volatility Portfolio

2.70%

PowerShares S&P Emerging Markets Low Volatility Portfolio

1.40%

iShares Edge MSCI Min Vol Emerging Markets ETF

1.40%

Monthly Performance as of 01/31/2018

Total Returns

Fund

1 month

3 month

YTD

1 yr

3 yr

SI1

1290 Retirement 2020 - Class I (NAV)

1.88%

3.78%

1.88%

-

-

10.63%

S&P Target Date 2020 Index2

2.12%

4.28%

2.12%

-

-

11.41%

1290 Retirement 2025 - Class I (NAV)

2.22%

4.48%

2.22%

-

-

12.32%

S&P Target Date 2025 Index2

2.67%

5.17%

2.67%

-

-

13.35%

1290 Retirement 2030 - Class I (NAV)

2.58%

5.03%

2.58%

-

-

13.43%

S&P Target Date 2030 Index2

3.18%

6.02%

3.18%

-

-

15.19%

1290 Retirement 2035 - Class I (NAV)

2.84%

5.38%

2.84%

-

-

14.34%

S&P Target Date 2035 Index2

3.68%

6.83%

3.68%

-

-

16.99%

1290 Retirement 2040 - Class I (NAV)

3.09%

5.84%

3.09%

-

-

15.26%

S&P Target Date 2040 Index2

4.01%

7.37%

4.01%

-

-

18.18%

1290 Retirement 2045 - Class I (NAV)

3.26%

6.18%

3.26%

-

-

16.06%

S&P Target Date 2045 Index2

4.19%

7.67%

4.19%

-

-

18.87%

1290 Retirement 2050 - Class I (NAV)

3.60%

6.54%

3.60%

-

-

16.98%

S&P Target Date 2050 Index2

4.31%

7.88%

4.31%

-

-

19.40%

1290 Retirement 2055 - Class I (NAV)

3.85%

6.97%

3.85%

-

-

17.88%

S&P Target Date 2055 Index2

4.37%

7.96%

4.37%

-

-

19.64%

1290 Retirement 2060 - Class I (NAV)

3.94%

7.16%

3.94%

-

-

18.19%

S&P Target Date 2060 Index2

4.46%

8.11%

4.46%

-

-

19.92%

< Swipe table for more info >

Quarterly Performance as of 12/31/2017

Total Returns

Fund

1 month

3 month

YTD

1 yr

3 yr

SI1

1290 Retirement 2020 - Class I (NAV)

0.55%

2.93%

-

-

-

8.59%

S&P Target Date 2020 Index2

0.83%

3.20%

-

-

-

9.09%

1290 Retirement 2025 - Class I (NAV)

0.62%

3.46%

-

-

-

9.87%

S&P Target Date 2025 Index2

0.92%

3.73%

-

-

-

10.40%

1290 Retirement 2030 - Class I (NAV)

0.53%

3.74%

-

-

-

10.58%

S&P Target Date 2030 Index2

1.01%

4.24%

-

-

-

11.64%

1290 Retirement 2035 - Class I (NAV)

0.62%

3.91%

-

-

-

11.19%

S&P Target Date 2035 Index2

1.09%

4.71%

-

-

-

12.83%

1290 Retirement 2040 - Class I (NAV)

0.63%

4.19%

-

-

-

11.80%

S&P Target Date 2040 Index2

1.13%

5.03%

-

-

-

13.63%

1290 Retirement 2045 - Class I (NAV)

0.62%

4.46%

-

-

-

12.40%

S&P Target Date 2045 Index2

1.17%

5.20%

-

-

-

14.09%

1290 Retirement 2050 - Class I (NAV)

0.54%

4.54%

-

-

-

12.91%

S&P Target Date 2050 Index2

1.19%

5.34%

-

-

-

14.47%

1290 Retirement 2055 - Class I (NAV)

0.54%

4.81%

-

-

-

13.51%

S&P Target Date 2055 Index2

1.20%

5.38%

-

-

-

14.63%

1290 Retirement 2060 - Class I (NAV)

0.64%

4.91%

-

-

-

13.72%

S&P Target Date 2060 Index2

1.20%

5.47%

-

-

-

14.80%

< Swipe table for more info >

Expense Ratios as of 02/27/2017

Fund

Gross Expense Ratio

Net Expense Ratio3

1290 Retirement 2020 - Class I Shares

4.85%

0.65%

1290 Retirement 2025 - Class I Shares

4.85%

0.65%

1290 Retirement 2030 - Class I Shares

4.85%

0.65%

1290 Retirement 2035 - Class I Shares

4.85%

0.65%

1290 Retirement 2040 - Class I Shares

4.86%

0.65%

1290 Retirement 2045 - Class I Shares

4.86%

0.65%

1290 Retirement 2050 - Class I Shares

4.86%

0.65%

1290 Retirement 2055 - Class I Shares

4.86%

0.65%

1290 Retirement 2060 - Class I Shares

4.86%

0.65%

Performance data quoted represents past performance. Past performance does not guarantee future results. Investment return and principal value of an investment will fluctuate so that an investor's shares, when sold or redeemed, may be worth more or less than the original cost. Current performance data may be higher or lower than actual data quoted. For the most current month-end performance data please call (888) 310-0416.

One cannot invest directly in an index.

Returns for periods of less than one year are not annualized.

1Fund inception date of Febuary 27, 2017.

2The S&P Target Date® Index Series comprises eleven multi-asset class indices, each corresponding to a particular target retirement date. The asset allocation for each index in the series is determined once a year through survey of large fund management companies that offer target date products. Each index is fully investable, with varying levels of exposure to equities, fixed income and commodities.

3Pursuant to a contract, 1290 Asset Managers® has agreed to make payments or waive its management, administrative and other fees to limit the expenses of the
Fund through April 30, 2018 (unless the Board of Trustees consents to an earlier revision or termination of this arrangement) (“Expense Limitation Arrangement”) so that the annual operating expenses (including Acquired Fund Fees and Expenses) of the Fund (exclusive of taxes, interest, brokerage commissions, capitalized expenses (other than offering costs), 12b-1 fees, and extraordinary expenses) do not exceed an annual rate of average daily net assets of 0.65% for Class I shares of the Fund. The Expense Limitation Arrangement may be terminated by 1290 Asset Managers® at any time after April 30, 2018.

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Important Disclosures:An investor should consider investment objectives, risks, charges and expenses carefully before investing. Click the link to obtain a Prospectus which contains this and other information, or call 888-310-0416. Read the Prospectus carefully before investing.
1290 Funds® is a registered service mark of AXA Equitable Life Insurance Company, New York, NY 10104.
The 1290 Funds® are not suitable for all investors. Subject to investment risks, including possible loss of the principal amount invested.
The 1290 Funds® are subject to several risk factors which are explained by clicking here.
The 1290 Funds® offer several ways for investors to reduce or eliminate sales charges. A brief summary of some of the ways is explained by clicking here. For more details, read your Fund's Statement of Additional Information or speak with your financial advisor.
Diversification does not eliminate the risk of experiencing losses.
The 1290 Funds® are new and have a limited operating history.
Fund's performance does not guarantee future results.
Mutual funds, annuities, and other investments are not insured or guaranteed by the FDIC or by any other government agency or government sponsored agency of the federal government or any state, not deposits, obligations, or guaranteed by any bank or its affiliates and are subject to investment risks, including possible loss of the principal amount invested.
Alternative investments may have different characteristics and risks than do traditional investments, can be highly volatile, may be less liquid, particularly in periods of stress, and may be more complex and less transparent than traditional investments.
Fund of funds risk: A fund that invests in ETFs will indirectly bear fees and expenses charged by those ETFs, in addition to the fund's direct fees and expenses. The cost of investing in the Fund, therefore, may be higher than the cost of investing in a mutual fund that invests directly in individual stocks and bonds. In addition, the Fund's net asset value will be subject to fluctuations in the market values of the ETFs in which it invests.
The Funds are distributed by ALPS Distributors, Inc. ALPS Distributors, Inc., which is not affiliated with AXA Equitable Life Insurance Company, AXA Investment Managers, Inc., Rosenberg Equities Investment Management LLC, GAMCO Asset Management, Inc., Pacific Investment Management Company LLC, Palisade Capital Management, LLC, TCW Investment Management Company, or DoubleLine Capital LP. ALPS, A DST Company, 1290 Broadway, Suite 1100, Denver, CO 80203.